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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Wireless Xcessories Grp. | AMEX:XWG | AMEX | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
x
|
Annual
Report pursuant to Section 13 or 15(d) of the Securities
Exchange
Act of 1934.
For
the fiscal year ended December 31,
2007.
|
o
|
Transition
Report pursuant to Section 13 or 15(d) of the Securities
Exchange
Act of 1934.
For the transition period from _____________ to
_____________.
|
DELAWARE
State
or other jurisdiction of
incorporation
or organization
|
13-3835420
I.R.S.
Employer
Identification
Number
|
OPERATION
|
NATURE
|
LOCATION
|
(SQ.
FT.)
|
DATE
|
Main
Facility
|
Warehouse
|
Huntingdon
Valley, PA
|
52,000
|
3/31/2009
|
Main
Facility
|
Office
|
Huntingdon
Valley, PA
|
13,100
|
3/31/2009
|
NAME
|
FOR
|
WITHHOLD
|
Stephen
Rade
|
3,785,656
|
113,507
|
Christopher
McConnell
|
3,824,990
|
77,573
|
Bradley
T. MacDonald
|
3,821,590
|
73,623
|
Allan
Kalish
|
3,825,540
|
66,323
|
Christopher
C. Cole
|
3,832,840
|
74,173
|
2007
|
HIGH
|
LOW
|
FIRST
QUARTER
|
3.23
|
2.45
|
SECOND
QUARTER
|
4.15
|
2.69
|
THIRD
QUARTER
|
4.15
|
2.24
|
FOURTH
QUARTER
|
2.41
|
1.49
|
|
||
2006
|
||
FIRST
QUARTER
|
7.89
|
4.60
|
SECOND
QUARTER
|
6.75
|
4.07
|
THIRD
QUARTER
|
5.90
|
2.95
|
FOURTH
QUARTER
|
3.74
|
2.69
|
2007
|
2006
|
|||||||
($
IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA) INCOME
STATEMENT DATA
:
|
||||||||
NET
SALES
|
$ | 22,503 | $ | 22,869 | ||||
COST
OF SALES
|
14,845 | 15,479 | ||||||
GROSS
PROFIT
|
7,658 | 7,390 | ||||||
SELLING,
GENERAL &
|
||||||||
ADMINISTRATIVE
EXPENSES
|
6,751 | 6,310 | ||||||
(OTHER
INCOME) EXPENSE
|
||||||||
LOSS
(GAIN) FROM DISPOSITION OF PROPERTY
|
— | — | ||||||
UNREALIZED
(LOSS) GAINS ON TRADEABLE SECURITIES
|
( 222 | ) | 122 | |||||
Dividend
INCOME AND CAPITAL
|
||||||||
GAINS
DISTRIBUTION
|
175 | 106 | ||||||
INTEREST
INCOME
|
7 | 11 | ||||||
— | — | |||||||
INCOME
BEFORE INCOME TAXES
|
867 | 1,319 | ||||||
INCOME
TAX EXPENSE
|
382 | 130 | ||||||
NET
INCOME
|
$ | 485 | $ | 1,189 | ||||
NET
EARNINGS PER SHARE OF
|
||||||||
COMMON
STOCK- BASIC
|
$ | 0.11 | $ | 0.27 | ||||
NET
EARNINGS PER SHARE OF
|
||||||||
COMMON
STOCK- DILUTED
|
$ | 0.11 | $ | 0.26 | ||||
AS
OF DECEMBER 31,
|
||||||||
2007
|
2006
|
|||||||
WORKING
CAPITAL
|
$ | 7,014 | $ | 6,269 | ||||
TOTAL
ASSETS
|
8,478 | 8,029 | ||||||
LONG
TERM DEBT
|
— | — | ||||||
STOCKHOLDERS’
EQUITY
|
7,547 | 7,075 |
·
|
Sales
were impacted, particularly, in the last six months of 2007, by reduced
volume from three of our largest customers due to a reevaluation of a
product line directly imported for one of them, the sale of the customers
business to a carrier, and financial difficulties,
respectively.
|
·
|
The
merger of two major carriers (Sprint/Nextel) in late 2006 and its
continued transitional problems throughout 2007 in the form of delayed and
/or reduced payments for phone and activation sales, negatively affected
the purchasing capacity of some of our Customers. This reduced purchasing
from that portion of our business.
|
·
|
The
overall cell phone sales and related accessory market in 2007 was sluggish
at best, resulting in less available funds for our customer base to
purchase accessory products.
|
·
|
Though,
our Bluetooth and hands free sales increased from approximately 31% of
sales in 2006 to 33% of sales in 2007, this growth, was not sufficient to
offset an overall decrease in our core aftermarket product
offerings.
|
·
|
The
Company improved its overall margins on its non Bluetooth and hands free
product lines as a result of high margin contributions on new product
offerings such as cases, pouches and batteries. We limited the amount of
special discounted pricing and maintained the overall integrity of our
pricing in a competitive market.
|
·
|
The
company incurred much lower freight cost in 2007 compared to 2006 in
relation to Far East Shipments as a result of improved logistics, timing
of shipments and overall
efficiencies.
|
·
|
An
offsetting factor was the continued growth in the percentage of our total
sales of lower margin Bluetooth products in 2007 as compared to
2006.
|
2008
|
$ | 480,618 | |||
2009
|
$ | 161,494 | |||
Thereafter
|
— | ||||
Total
|
$ | 642,112 |
$5.485
|
$5.857
|
$5.670
|
$5.857
|
$6.073
|
$6.080
|
$5.021
|
$5.329
|
|
QTR
|
1
|
2
|
3
|
4
|
1
|
2
|
3
|
4
|
FY
|
06
|
06
|
06
|
06
|
07
|
07
|
07
|
07
|
$2.096
|
$1.972
|
$1.582
|
$1.740
|
$2.118
|
$1.947
|
$1.809
|
$1.784
|
|
QTR
|
1
|
2
|
3
|
4
|
1
|
2
|
3
|
4
|
FY
|
06
|
06
|
06
|
06
|
07
|
07
|
07
|
07
|
$(147)
|
$(94)
|
$(323)
|
$110
|
$344
|
$(33)
|
$438
|
$(640)
|
|
QTR
|
1
|
2
|
3
|
4
|
1
|
2
|
3
|
4
|
FY
|
06
|
06
|
06
|
06
|
07
|
07
|
07
|
07
|
$0.10
|
$0.09
|
$0.03
|
$0.05
|
$0.06
|
$0.04
|
$0.00
|
$0.00
|
|
QTR
|
1
|
2
|
3
|
4
|
1
|
2
|
3
|
4
|
FY
|
06
|
06
|
06
|
06
|
07
|
07
|
07
|
07
|
Name
|
Age
|
Office
|
First
Became Director
|
Stephen
Rade
|
70
|
President,
Chief Executive Officer and Chairman of the Board
|
1996
|
Christopher
F. McConnell
|
54
|
Director
|
1998
|
Ronald
E. Badke
|
62
|
Chief
Financial Officer and Secretary
|
1995
|
Allan
Kalish
|
82
|
Director
|
1998
|
Christopher
C. Cole
|
52
|
Director
|
2000
|
Bradley
T. MacDonald
|
60
|
Director
|
1999
|
Dawn
Kenderdine
|
38
|
Vice
President and Business Development Manager
|
NAME AND PRINCIPAL
POSITION
|
YEAR
|
SALARY
|
|
Stephen
Rade
|
2007
|
$300,000
|
|
Chief
Executive Officer
|
2006
|
$300,000
|
|
President
and Chairman of the Board
|
2005
|
$298,000
|
|
Ronald
E. Badke
|
2007
|
$130,803
|
|
Chief
Financial Officer and
|
2006
|
$128,308
|
|
Secretary
|
2005
|
$126,000
|
|
Susan
Rade
|
2007
|
$183,042
|
|
Vice
President
|
2006
|
$183,042
|
|
Sales
Account Manager
|
2005
|
$183,942
|
|
Dawn
Kenderdine
|
2007
|
$146,443
|
|
New
Business Development Manager
|
2006
|
$130,190
|
|
Purchasing
Director
|
2005
|
$119,756
|
Name
|
Exercisable
Shares
|
Weighted
Exercise Price
|
Option
Market Value
|
Option
Underlying Value
|
Ronald
E. Badke
|
20,000
|
$1.44
|
$31,000
|
$
2,200
|
Dawn
Kenderdine
|
10,000
|
$4.68
|
$15,500
|
$0
|
NAME*
|
NUMBER
OF SHARES
BENEFICIALLY OWNED
(1)
|
PERCENTAGE
(2)
|
Christopher
F. McConnell (3)
|
50,421
|
1.1%
|
Stephen
Rade
|
763,349
|
17.4%
|
Ronald
E. Badke (4)
|
31,200
|
—
**
|
Christopher
C. Cole (5)
|
73,421
|
1.7%
|
Allan
Kalish (6)
|
54,421
|
1.2%
|
Bradley
T. MacDonald
|
13,421
|
—**
|
Dawn
Kenderdine (7)
|
61,500
|
1.4%
|
Directors
and Officers as a group ((7) Persons) (8)
|
1,047,733
|
23.9%
|
FISCAL
YEAR 2006
|
FISCAL
YEAR 2007
|
||||||||
Annual
certified audit
|
$ | 38,000 | $ | 45,000 | |||||
10QSB
reviews
|
$ | 22,000 | $ | 22,000 | |||||
Other
charges
|
— | — | |||||||
TOTAL
|
$ | 60,000 | $ | 67,000 |
PAGE
|
|
REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
|
F-2
|
CONSOLIDATED
BALANCE SHEETS AS OF DECEMBER 31, 2007 AND 2006
|
F-3
|
CONSOLIDATED
STATEMENTS OF INCOME FOR THE YEARS ENDED DECEMBER 31, 2007 AND
2006
|
F-5
|
CONSOLIDATED
STATEMENTS OF STOCKHOLDERS’ EQUITY FOR THE YEARS ENDED DECEMBER 31, 2007
AND 2006
|
F-6
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2007 AND
2006
|
F-7,
F-8
|
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
|
F-9
|
2007
|
2006
|
|||||||
CURRENT
ASSETS
|
||||||||
Cash
and cash equivalents
|
$ | 428,209 | $ | 318,922 | ||||
Investment
in Tradable Securities
|
2,857,880 | 2,134,992 | ||||||
Accounts
receivable (net of allowance for doubtful accounts of $ 90,280 and
$89,205, respectively
|
1,679,984 | 1,872,582 | ||||||
Inventories
|
2,472,724 | 2,088,346 | ||||||
Prepaid
expenses and other assets
|
255,058 | 260,220 | ||||||
Current
portion of deferred income taxes
|
129,531 | 127,535 | ||||||
Advances
to foreign manufacturer under distributor agreement
|
— | 286,616 | ||||||
Federal
and State prepaid taxes
|
121,990 | 134,665 | ||||||
Total
current assets
|
7,945,376 | 7,223,878 | ||||||
PROPERTY
AND EQUIPMENT – Net
|
288,692 | 339,738 | ||||||
INVESTMENTS
|
39,815 | 259,429 | ||||||
LONG-TERM
PORTION OF DEFERRED
|
||||||||
INCOME
TAXES
|
167,095 | 168,930 | ||||||
OTHER
ASSETS
|
37,230 | 37,230 | ||||||
Total
assets
|
$ | 8,478,208 | $ | 8,029,205 |
2007
|
2006
|
|||||||
CURRENT
LIABILITIES
|
||||||||
Accounts
payable
|
$ | 677,314 | $ | 792,141 | ||||
Accrued
payroll and related benefits
|
147,694 | 133,921 | ||||||
Other
accrued expenses
|
106,051 | 28,535 | ||||||
Total
current liabilities
|
931,059 | 954,597 | ||||||
STOCKHOLDERS’
EQUITY
|
||||||||
Preferred
stock, par value $.001, 1,000,000 shares authorized, no shares issued or
outstanding
|
||||||||
Common
stock, par value $.001, 10,000,000 shares authorized, 5,373,080 issued in
both 2007 and 2006
|
5,373 | 5,373 | ||||||
Additional
paid-in capital
|
11,477,844 | 11,453,604 | ||||||
Accumulated
deficit
|
(3,156,090 | ) | (3,640,872 | ) | ||||
Treasury
stock, at cost, 985,409 and 958,958 shares, respectively
|
(779,978 | ) | (743,497 | ) | ||||
Total
stockholders’ equity
|
7,547,149 | 7,074,608 | ||||||
Total
liabilities and stockholders’ equity
|
$ | 8,478,208 | $ | 8,029,205 |
2007
|
2006
|
|||||||
Net
sales
|
$ | 22,503,288 | $ | 22,869,199 | ||||
Cost
of sales
|
14,845,538 | 15,479,073 | ||||||
Gross
profit
|
7,657,750 | 7,390,126 | ||||||
Selling,
general and administrative expenses
|
(6,751,031 | ) | (6,310,499 | ) | ||||
Income
from operations
|
906,719 | 1,079,627 | ||||||
Other
Income (Expense):
|
||||||||
Unrealized
(Loss) gains on Tradable Securities
|
(221,720 | ) | 122,550 | |||||
Dividend
income and Capital Gains Distributions
|
175,194 | 106,187 | ||||||
Interest
income
|
6,866 | 11,079 | ||||||
Income
before Income taxes
|
867,059 | 1,319,443 | ||||||
Income
tax expense
|
382,277 | 129,939 | ||||||
Net
Income
|
$ | 484,782 | $ | 1,189,504 | ||||
|
|
|||||||
Earnings
per common share –
|
||||||||
Basic: Net
Income
|
$ | 0.11 | $ | 0. 27 | ||||
|
|
|||||||
Diluted: Net
Income
|
$ | 0.11 | $ | 0. 26 | ||||
|
|
|||||||
Weighted
average number of common shares outstanding – Basic
|
$ | 4,415,727 | $ | 4 ,464,710 | ||||
Weighted
average number of common shares outstanding – Diluted
|
$ | 4,565,508 | $ | 4,627,940 |
Common
Stock
|
Paid-in
|
Accumulated
|
Treasury
Stock
|
Total
|
||||||||||||||||||||||||
Shares
|
Amount
|
Capital
|
Deficit
|
Shares
|
Amount
|
equity
|
||||||||||||||||||||||
Balance
December 31, 2005
|
5,343,080 | $ | 5,343 | $ | 11,411,124 | $ | (4,830,376 | ) | (861,385 | ) | $ | (413,072 | ) | $ | 6,173,019 | |||||||||||||
Stock
Issued
|
30,000 | 30 | 42,480 | 2,427 | 5,000 | 47,510 | ||||||||||||||||||||||
Net
Income
|
1,189,504 | 1,189,504 | ||||||||||||||||||||||||||
Stock repurchased
|
(100,000 | ) | (335,425 | ) | (335,425 | ) | ||||||||||||||||||||||
Balance
December 31, 2006
|
5,373,080 | $ | 5,373 | $ | 11,453,604 | $ | (3,640,872 | ) | (958,958 | ) | $ | (743,497 | ) | $ | 7,074,608 | |||||||||||||
Net
Income
|
484,782 | 484,782 | ||||||||||||||||||||||||||
Stock
issued
|
24,240 | 13,476 | 24,125 | 48,365 | ||||||||||||||||||||||||
Stock
repurchased
|
(39,927 | ) | (60,606 | ) | (60,606 | ) | ||||||||||||||||||||||
Balance
December 31, 2007
|
5,373,080 | $ | 5,373 | $ | 11,477,844 | $ | (3,156,090 | ) | (985,409 | ) | $ | (779,978 | ) | $ | 7,547,149 |
2007
|
2006
|
|||||||
OPERATING
ACTIVITIES:
|
||||||||
Net
Income
|
$ | 484,782 | $ | 1,189,504 | ||||
Adjustments
to reconcile net income to net cash provided by operating
activities:
|
||||||||
Unrealized
Losses on Investments
|
219,614 | — | ||||||
Unrealized
Gains on Tradable Securities
|
(3,775 | ) | (122,550 | ) | ||||
Depreciation
and amortization
|
160,124 | 209,259 | ||||||
Provision
for doubtful accounts
|
74,400 | 90,677 | ||||||
Common
Stock issued to Directors, Officer and employees
|
44,240 | 47,510 | ||||||
Common
Stock issued to Consultants
|
4,125 | — | ||||||
Deferred
Income taxes
|
(161 | ) | (195,587 | ) | ||||
Changes
in assets and liabilities:
|
||||||||
Tradable
Securities
|
(719,113 | ) | (102,071 | ) | ||||
Accounts
Receivable
|
118,198 | (230,442 | ) | |||||
Inventories
|
(384,378 | ) | 10,021 | |||||
Prepaid
expenses and other assets
|
304,453 | (339,792 | ) | |||||
Accounts
payable and accrued expenses
|
(23,538 | ) | (198,456 | ) | ||||
Net
cash provided by operating activities
|
278,971 | 358,073 | ||||||
INVESTING
ACTIVITIES:
|
||||||||
Purchases
of property and equipment, net
|
(109,078 | ) | (217,618 | ) | ||||
Investment
in common stock of foreign distributor
|
— | (259,429 | ) | |||||
Net
cash (used in) investing activities
|
(109,078 | ) | (477,047 | ) |
2007
|
2006
|
|||||||
FINANCING
ACTIVITIES:
|
||||||||
Repurchase
of common stock
|
$ | (60,606 | ) | $ | (335,425 | ) | ||
Net
cash (used) in financing activities
|
(60,606 | ) | (335,425 | ) | ||||
NET
INCREASE DECREASE) IN CASH AND
|
||||||||
CASH
EQUIVALENTS
|
109,287 | (454,399 | ) | |||||
CASH
& CASH EQUIVALENTS - BEGINNING OF YEAR
|
318,922 | 773,321 | ||||||
CASH
AND CASH EQUIVALENTS - END OF YEAR
|
$ | 428,209 | $ | 318,922 | ||||
|
|
|||||||
SUPPLEMENTAL
DISCLOSURE OF CASH FLOW INFORMATION:
|
||||||||
Cash
paid during year for:
|
||||||||
Income
taxes
|
$ | 363,000 | $ | 562,182 | ||||
|
|
|||||||
Supplemental
Disclosure of Non-Cash Activity:
|
||||||||
Common
Stock issued to Directors, Officer and Employee
|
$ | 44,240 | $ | 47,510 | ||||
|
|
|||||||
Common
Stock issued to Consultants
|
$ | 4,125 | $ | — |
2007
|
2006
|
||||||||
Basic
EPS Shares
|
4,415,727 | 4,464,710 | |||||||
Dilutive
effect of stock options
|
149,781 | 163,230 | |||||||
Diluted
EPS shares
|
4,565,508 | 4,627,940 |
·
|
Acquisition
costs will be generally expensed as
incurred;
|
·
|
Assets
that an acquirer does not intend to use will be recorded at fair value
reflecting the ass
ets
’
highest and best
use.
|
·
|
Noncontrolling
interests (formerly known as “minority interests” — see Statement 160
discussion below) will be valued at fair value at the acquisition
date;
|
·
|
Acquired
contingent liabilities will be recorded at fair value at the acquisition
date and subsequently measured at either the higher of such amount or the
amount determined under existing guidance for non-acquired
contingencies;
|
·
|
In-process
research and development will be recorded at fair value as an
indefinite-lived intangible asset at the acquisition
date;
|
·
|
Restructuring
costs associated with a business combination will be generally expensed
subsequent to the acquisition date;
and
|
·
|
Changes
in deferred tax asset valuation allowances and income tax uncertainties
after the acquisition date generally will affect income tax
expense.
|
DECEMBER 31,
|
|||||||||
2007
|
2006
|
||||||||
Machinery
and equipment
|
$ | 511,882 | $ | 2,255,911 | |||||
Furniture
and fixtures
|
396,993 | 419,979 | |||||||
Leasehold
improvements
|
$ | 253,482 | 253,482 | ||||||
$ | 1,162,357 | $ | 2,929,372 | ||||||
Less
accumulated depreciation
|
|||||||||
and
amortization
|
$ | (873,665 | ) | $ | (2,589,634 | ) | |||
Property
and equipment, net
|
$ | 288,692 | $ | 339,738 |
Options outstanding
|
Options exercisable
|
|||||||||||||||
Weighted
Number Of Shares
|
Exercisable
Average Share Price
|
Wtd.
Avg.Options Shares
|
Exercise
Price
|
|||||||||||||
Options
outstanding at December 31, 2005
|
205,208 | $ | 1.37 | 205,208 | $ | 1.37 | ||||||||||
Exercised
|
(32,427 | ) | $ | 1.46 | (32,427 | ) | $ | 1.46 | ||||||||
Options
outstanding at December 31, 2006
|
172,781 | $ | 1.30 | 172,781 | $ | 1.30 | ||||||||||
Cancelled
|
(2,000 | ) | $ | 4.68 | (2,000 | ) | $ | 4.68 | ||||||||
Options
outstanding at December 31, 2007
|
170,781 | $ | 1.31 | 170,781 | $ | 1.31 |
Range
of Exercise Price
|
Number
Outstanding
|
Weighted
Average Life (Years)
|
Exercise
Price
|
Number
Exercisable
|
Weighted
Average Exercise Price
|
$0.28-$3.75
|
80,000
|
3.7
|
$0.33
|
80,000
|
$0.33
|
$1.01-$200
|
62,500
|
2.2
|
$1.41
|
62,500
|
$1.42
|
$2.06-$2.06
|
7,281
|
7.1
|
$2.06
|
7,281
|
$2.06
|
$4.01-$5.00
|
21,000
|
4.9
|
$4.57
|
21,000
|
$4.55
|
2007
|
2006
|
|||||||
Current:
|
||||||||
Federal
|
$ | 285,047 | $ | 454,411 | ||||
State
|
99,078 | 77,474 | ||||||
$ | 384,125 | $ | 531,885 | |||||
Deferred:
|
||||||||
Federal
|
744 | (365,771 | ) | |||||
State
|
(2,592 | ) | (36,175 | ) | ||||
$ | (1,848 | ) | $ | (401,946 | ) | |||
Total
provision
|
||||||||
For
income taxes
|
$ | 382,277 | $ | 129,939 |
DECEMBER 31,
|
||||||||
2007
|
2006
|
|||||||
Deferred
income tax assets:
|
||||||||
Accrued
compensation
|
$ | 19,000 | $ | 19,000 | ||||
Unrealized
Losses on Investments
|
83,550 |
_
|
||||||
Inventory
reserve
|
62,448 | 101,590 | ||||||
Bad
debts reserve
|
34,306 | 29,767 | ||||||
Sales
returns and allowances
|
34,262 | 57,000 | ||||||
Goodwill
|
170,130 | 197,430 | ||||||
$ | 403,696 | $ | 404,787 | |||||
Deduct: Deferred
income tax liabilities:
|
||||||||
State
taxes
|
$ | 11,585 | $ | 12,262 | ||||
Deferred
Revenue
|
$ | 47,985 | $ | 46,569 | ||||
Depreciation
|
$ | 47,500 | $ | 28,500 | ||||
$ | 296,626 | $ | 317,456 | |||||
Deduct:
Valuation allowance
|
— | $ | 20,991 | |||||
Net
deferred tax asset
|
$ | 296,626 | $ | 296,465 |
2007
|
2006
|
||||||||
Statutory
income tax rate
|
34.0 | % | 34.0 | % | |||||
State
income taxes, net of
|
|||||||||
Federal
tax benefit
|
5.3 | 4.7 | |||||||
Meals
and entertainment
|
0.1 | 0.1 | |||||||
Prior
years state tax audit net of federal tax benefit.
|
2.2 | — | |||||||
Other
|
2.4 | 1.5 | |||||||
Valuation
allowance
|
— | (30.5 | ) | ||||||
Effective
tax rate
|
44.0 | % | 9.8 | % |
2008
|
$ | 480,618 | ||
2009
|
$ | 161,494 | ||
Thereafter
|
— | |||
Total:
|
$ | 642,112 |
3.1
|
Certificate
of Incorporation of Company and amendments
thereto*
|
3.2
|
By-Laws*
|
4.1
|
Form
of Common Stock Certificate*
|
4.2
|
Form
of Warrant*
|
10.1
|
Warrant
Agreement related to Redeemable Stock Purchase
Warrants*
|
10.2
|
Form
of Purchase Option issued to underwriter of initial public
offering*
|
10.3
|
Form
of Preferred Stock, Series A
Certificate*
|
10.4
|
1995
Stock Option Plan of Company*
|
10.5
|
Forms
of Option Agreement under the Plan
|
10.6
|
Option
issued to Mr. Robert W. Tauber*
|
10.7
|
Management
Services Agreement between the Company and Founders Management
Services,
Inc., as amended*
|
10.8
|
Lease
between Advanced Fox Antenna, Inc. and Rade Limited
Partners*
|
10.9
|
Registration
Rights Agreement between the Company and Messrs. Tauber and
Rade*
|
10.10
|
Revolving
Credit, Term Loan and Security Agreement, dated January 6, 1997among IBJ
Schroder Bank & Trust Company as Agent and the Company, Advanced Fox
Antenna, Inc., Tauber Electronics Inc., Battery Acquisition Corp.,
Specific Energy Corporation, Battery Network, Inc. and W.S.Battery &
Sales Company, Inc.**
|
10.11
|
Amendment
No. 1 and Joinder Agreement dated __________ among the Company, certain of
its affiliates and IBJ Schroder Bank & Trust
Company***
|
10.12
|
Waiver
and Amendment to Revolving Credit, Term Loan and Security Agreement dated
__________ by and among the Company, certain of its affiliates and IBJ
Schroder Bank & Trust
Company****
|
10.13
|
Waiver
and Amendment to Revolving Credit, Term Loan and Security Agreement dated
__________ by and among the Company, certain of its affiliates and IBJ
Schroder Bank & Trust
Company*****
|
10.14
|
Asset
Purchase Agreement dated Jan 26, 2000 with respect to the sale of
substantially all of the assets of Tauber Electronics,
Inc.******
|
10.15
|
Agreement
and Plan of Merger dated February 28, 2001, by and among Wireless
Xcessories Group, Inc., Accessory Solutions.com Inc., Advanced Fox
Antenna, Inc. and Cliffco of Tampa
Bay.
|
10.16
|
Waiver
and Amendment to Revolving Credit, Term Loan and Security Agreement dated
March 30, 2001 by and among the Company, certain of its affiliates and IBJ
Schroder Bank & Trust Company
|
10.17
|
Form
of Warrant issued to each of Warren H. Haber and John L. Teeger** List of
Subsidiaries
|
31.1
|
Certification
Pursuant to Rule 13a-14 and 15d-14 of
The
Securities and Exchange Act of
1934
|
31.2
|
Certification
Pursuant to Rule 13a-14 and 15d-14 of
The
Securities and Exchange Act of
1934
|
32.1
|
Certification
Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of
Sarbanes-Oxley Act of 2002
|
32.2
|
Certification
Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of
Sarbanes-Oxley Act of 2002
|
WIRELESS XCESSORIES GROUP, INC. | |||
Date:
March 28, 2008
|
By:
|
/s/ Stephen Rade | |
Stephen Rade | |||
Chief Executive Officer and President | |||
Signature
|
Title
|
Date
|
||
/s/
Stephen
Rade
|
Chairman
of the Board, Chief Executive Officer, President and Director (Principal
Executive Officer)
|
March
28, 2008
|
||
Stephen
Rade
|
||||
/s/
Ronald
E. Badke
|
Chief
Financial Officer and Secretary (Principal Financial
Officer)
|
March
28, 2008
|
||
Ronald
E. Badke
|
||||
/s/
Christopher
F. McConnell
|
Director
|
March
28, 2008
|
||
Christopher
F. McConnell
|
/s/
Allan
Kalish
|
Director
|
March
28, 2008
|
||
Allan
Kalish
|
||||
/s/
Christopher
C. Cole
|
Director
|
March
28, 2008
|
||
Christopher
C. Cole
|
1 Year Wireless Xcessories Chart |
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